What is COAF?
COAF (or COAF Plano TX) is a credit report code that stands for Capital One Auto Finance. COAF may be on your credit report as a hard inquiry. This happens when you apply for auto financing through Capital One.
‘Cap one auto’ and ‘capital one auto fin’ are also codes referring to Capital One Auto Finance.
What is a hard inquiry?
A hard credit inquiry, or hard credit pull, occurs any time you apply for new credit and the lender or creditor runs a credit check. It can be for a mortgage, apartment, car loan, credit card, insurance policy, cell phone, and sometimes even a job application.
Hard inquiries will typically only drop your credit score by a few points. However, if you have too many, especially in a short period of time, they can really start to add up and do some damage.
What is a soft inquiry?
A soft credit inquiry occurs when a creditor checks your credit history without your permission. It can also happen when a credit card issuer or lender checks your credit to prequalify you for an offer. Sometimes a soft inquiry might even be pulled by an existing creditor just checking on your current credit situation.
Soft inquiries do not have an impact on your credit scores.
How long do hard inquiries stay on your credit report?
Whether you get approved for the auto loan makes no difference. The hard inquiry will remain on your credit report for up to 2 years. Each time you make an inquiry, it is recorded by one or all of the three major credit reporting agencies: Equifax, Experian, and TransUnion.
Unauthorized Inquiries
If you don’t recognize the COAF hard inquiry or you are sure you didn’t make the inquiry, contact Capital One Auto Finance and ask them why an inquiry was made. The creditor’s name should be listed under the hard inquiry section on your credit report.
You can also dispute the unauthorized inquiry on your credit reports with the three major consumer credit bureaus; Equifax, Experian, and TransUnion.
COAF Contact Information
Address:
Capital One Auto Finance
8050 Dominion Pkwy
Plano, TX 75024
Phone number: (800) 946-0332
Can COAF be removed from my credit report?
Lexington Law specializes in removing COAF inquiries and other negative marks on your credit report. With more than 18 years of experience, they achieved over 6 million removals for their clients in 2021 alone.
They can also help you dispute (and possibly remove) the following items:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Get Your Inquiries Removed Today!
If you’re looking for a reputable credit repair company to help you repair your credit, consider working with Lexington Law.
They have helped many people in your situation. Give them a call at (800) 220-0084 to see what they can do for you.
